Apple bond offering may mark bottom for yields

After a corporate bond market drought last week, Apple stepped out with a substantial and oversubscribed $12 billion deal this week. Investors should take note as the timing of the tech giant's debt offerings in the past have been shrewd.

As shown below, Apple offered dollar-denominated debt in April 2013, April 2014 and February 2015. In 2 out of 3 instances, the company sold almost at major lows for 10-year U.S. Treasury yields.